Saturday, May 23, 2015

Disposing of Downtown and Hercules – Varden


 It reports Dagens Næringsliv.

 The chain has 34 shopping centers in Norway, and sold according to DN’s sources for around 12 billion

 Along with families Johannson and Varner’s Petter Stordalen one of the owners. Stordalen owns about 30 percent of the chain

 The newspaper reports that a non-named, large publicly traded company from abroad is behind the acquisition.

 The sale will not be confirmed by the owners themselves.

 In addition to Downtown and Herkules owned also Lietorvet Sector Group.

 When Stordalen guested Ælvespeilet in Porsgrunn for just under a year since he guaranteed that he would spend over half a billion on renovating the Downtown and the entire lower part of town

 - Downtown has weathered. We need renovation, investment and belief in innovation, he called and was greeted with wild applause.

 What is happening now is not yet known.

 It has not succeeded Varden to get a comment from Petter Stordalen.

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